Hello Traders,
This coin just launched. Usually they pump and then sell off until they find a bottom. But that takes a while.
We just retested this huge 4h orderblock. Hard resistance should be the 2h breaker orderblock, but it looks like we're already reversing. On balance volume printing a hidden bearish divergence at resistance.
Liquidity is stored below each low on this run up. Will likely be taken out.
Our next objective is the marked 8-9$ area. A lot of confluence and liquidity void above. A bounce from there would make sense.
If you like my analysis, a like and/or follow is greatly appreciated. I will update trade status and execution in my TG.
This coin just launched. Usually they pump and then sell off until they find a bottom. But that takes a while.
We just retested this huge 4h orderblock. Hard resistance should be the 2h breaker orderblock, but it looks like we're already reversing. On balance volume printing a hidden bearish divergence at resistance.
Liquidity is stored below each low on this run up. Will likely be taken out.
Our next objective is the marked 8-9$ area. A lot of confluence and liquidity void above. A bounce from there would make sense.
If you like my analysis, a like and/or follow is greatly appreciated. I will update trade status and execution in my TG.
Trade closed manually:
I'm not short anymore. Structure has changed. Read the comment below.